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Greek bond issue raises €5bn amid robust investor demand

Athens on Thursday raised €5bn ($6.8bn) from its new 10-year bond issue, oversubscribed by three times the offering’s size, representing a thumbs up from credit markets for the Greek government’s austerity plan unveiled a day earlier.

The bond will pay an annual coupon of 6.37%, twice the rate on comparable German bonds.

Petros Christodoulou, chief of Greece’s debt management agency, said that pension funds, insurers and other “real money investors” having a long-term outlook were allocated 97% of the bonds on offer.